ETHEREUM (ETH) is struggling to get more than $ 4200 after a sharp sale that caused a wide range of scope via the encryption market. It has decreased by almost 9 % during the past week, with traders preparing a potential re -test of $ 4100.
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Coinglass data shows that more than $ 178 million in the centers has been classified within the past 24 hours, with long traders suffering in the largest blow, more than $ 127 million has been eliminated.
The prominent case witnessed that the excessive liquid dealer loses about 6.2 million dollars after the ETH was very strongly inserted, as months of gains turned into heavy losses in just two days.
This fluctuation comes at the time when the ethereum waiting menu rose to withdraw the clouds to 910,461 ETH, at a value of about $ 3.91 billion, indicating the next offer that can press more prices.
ETH's price losing momentum on the daily chart. Source: ETHUSD on Tradingview
Founding investors intervene despite market tensions
Despite retail pain, adult institutional players seem to buy a decrease. IndulgenceThe largest ETH holder, which is publicly traded, recently added 52,475 ETH, reaching approximately $ 6.6 billion.
Sharplink followed her example, bought 143,593 ETH for $ 4,648, although her location is now underwater.
Blockchain tracking devices also reported new flows from the wallets associated with Falcons, at a value of more than $ 38 million. This indicates that although short -term feelings remain shaky, big money investors continue to collect eth, as they bet on their long -term value.
Ethereum (ETH) analysts warn of deeper losses before healing
Market experts warn of this ethereum It may remain under pressure as the total economic uncertainty waving on the horizon in front of the Jackson Hall meeting in the US Federal Reserve. The pessimistic tone of the Federal Reserve Chairman Jerome Powell can increase the risk of feelings through encryption and arrows.
It has weakened the activity on the series as well. Active ETHEREUM addresses fell approximately 28 % in August, indicating retail sharing. The growth of the network also slowed, which raised questions about demand for the near -term.
However, analysts see the long -term trend as soon as the market absorbs to open 4 billion dollars. Some predictions remain optimistic, as Ethereum is expected to reach between 6000 to 8,000 dollars by the end of the year if the institutional flows continue.
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At the present time, the decisive question remains: Can ETH 4000 dollars defend, or will it supply its pressure to a deeper correction?
Cover image from Chatgpt, Ethusd chart from TradingView
The post Ethereum Nears $4K as $4B Supply Overhang Looms: Analysts Fear Deeper Losses first appeared on Investorempires.com.
